JasmyCoin/Tether Market Overview

• JASMYUSDT declined by 6.5% over 24 hours, with price falling below key support levels after a failed rebound.
• Volatility remained elevated, with Bollinger Band expansion confirming increased trading activity and uncertainty.
• RSI entered oversold territory (<30) mid-session, but a lack of follow-through buying suggests weak bullish conviction.
• Volume spiked in early ET hours before fading, indicating fading interest despite price declines.
• A bearish engulfing pattern formed around 0.0105, reinforcing the likelihood of further downside pressure.

JasmyCoin/Tether (JASMYUSDT) opened at 0.01051 on 2025-10-21 12:00 ET, reached a high of 0.0107, dipped to a low of 0.0096, and closed at 0.00977 on 2025-10-22 12:00 ET. Total volume for the 24-hour period was 329,976,991.34, with a notional turnover of approximately $3,236,000, reflecting heightened activity amid bearish momentum.

The price action over the past 24 hours revealed a clear breakdown from key support levels. A bearish engulfing pattern emerged near 0.0105 on the 15-minute chart, confirming a shift in market sentiment from bullish to bearish. The 20-period and 50-period moving averages on the 15-minute chart both turned downward, with the 50-period line crossing below the 20-period, forming a bearish crossover. On the daily chart, the 50-, 100-, and 200-period SMAs all remained in a descending alignment, reinforcing the bearish trend.

MACD showed a bearish divergence as the histogram moved lower while prices attempted a partial rebound in early ET hours. RSI entered oversold territory mid-session, dipping below 30, yet failed to trigger a meaningful reversal. This suggests limited buying interest despite the technical signal. Bollinger Bands expanded significantly during the early part of the session, indicating increased volatility. Price closed near the lower band, a bearish signal as it reinforces a move toward weaker levels.

Volume spiked sharply in early ET hours during the initial breakdown, but declined later in the session despite the continued price decline. This divergence could signal waning momentum or exhaustion in the bearish move. Notional turnover mirrored volume behavior, with the highest notional value occurring during the 15-minute window between 16:30–16:45 ET. The absence of follow-through buying during this period raises concerns about potential bearish exhaustion or a short-term pullback.

Fibonacci retracement levels applied to the 15-minute swing from 0.0107 to 0.0096 showed price consolidating around the 61.8% retracement at 0.00995, suggesting this could act as a short-term support level. On the daily chart, the 61.8% retracement from the recent high remains untested, but if broken, could open the door to further downside.

Looking ahead, the next 24 hours will likely focus on whether price can stabilize near 0.0096 or test the 0.0098–0.0099 level with a potential rebound. While oversold RSI and declining volume may hint at a near-term pause, the broader bearish trend remains intact. A failure to retest the 0.0098–0.0099 range without a convincing reversal could trigger a deeper correction.

Backtest Hypothesis
A potential backtest strategy could utilize the 14-period RSI, with a long entry when RSI falls below 30 and a short entry when RSI exceeds 70, targeting daily closing prices for simplicity. Given the recent RSI oversold conditions and lack of follow-through buying, a short-term reversal trade may be viable. However, with declining volume, the success of such a strategy may depend on strong risk controls, such as a stop-loss at 0.0096 or a 3-day exit rule. If confirmed by a more detailed data source using the correct ticker (e.g., JASMY-USDT on Binance), this approach could be refined for intraday execution.